Artificial Intelligence Robots Market to Grow at 28.78% CAGR to 2023


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ReportsnReports.com adds Artificial Intelligence (AI) Robots Market is forecast to reach $12.36 billion by 2023 from $3.49 billion in 2018 at a CAGR of 28.78% during (2018-2023) driven by the high adoption of robots for personal use such as companionship and entertainment; and support from governments worldwide to develop modern technologies; while North America to hold the second-largest share of the market in 2018.

Major players in the AI robots market are Soft Bank (Japan), Hanson Robotics (China), NVIDIA (US), Intel (US), Microsoft (US), IBM (US), Alphabet (US), Harman International Industries (Samsung) (US), Xilinx (US), ABB (Switzerland), FANUC (Japan), KUKA (a subsidiary of Midea Group) (Germany), Amazon (US), Blue Frog Robotics (France), Promobot (Russia), Jibo (US), ASUS (Taiwan), Mayfield Robotics (US), BSH Hausgeräte (Germany), and LG (South Korea).

North America is expected to hold the second-largest share of the AI robots market in 2018. This is because; the US is a global leader in adopting AI technology for robots for use in multiple application areas. In addition, several prominent AI technology providers such as IBM, Alphabet, Microsoft, NVIDIA, Intel, Facebook, MetaMind, Tute Genomics, Amazon, Celect, Bay Sensors, Narrative Science, and Prism Skylabs are based in the US. However, the market in APAC is expected to grow at the highest rate between 2018 and 2023.

The AI robots market for stock management applications to grow at a high rate between 2018 and 2023. High penetration rate of e-commerce giants such as Amazon, Walmart, and Alibaba, worldwide is one of the main factors contributing to the high growth of the AI in robots market for stock management applications. However, reluctance to adopt new technologies and absence of standardized regulations to prevent risks associated with networked and autonomous robots are the key factors restraining the growth of the AI in robots market.

Machine learning technology will hold largest share of the Artificial Intelligence (AI) Robots Market during the forecast period. Machine learning methods are particularly applicable when it comes to powering new insights within the robotics industry because the data sets are large and diverse, and they change quickly. Also, machine learning is required for voice recognition, voice search, recommendation engines, sentiment analysis, image recognition, and motion detection applications in smart robots. This is a key factor driving the growth of the AI in robots market for machine learning.

Based on application, the AI robots market has been segmented into military & defense, personal assistance and care giving, public relations, and stock management. Based on technology, the AI in robots market has been segmented into machine learning, natural language processing (NLP), context awareness, and computer vision. The report also forecasts the size of the Ai in robots market in 4main regions - North America, Europe, APAC, and RoW.

The AI in robots market has been segmented on the basis of robot type, technology, offering, application, and geography. Depending on the type of robot, the market has been segmented into service robots and industrial robots. The AI in robots market has been segmented on the basis of offering into hardware (processors, network devices, and storage devices) and software.

The software segment has captured the largest share of the AI robots market in 2018. Breakdown of profile of primary participants:

  • By Company Type: Tier 1 - 35%, Tier 2 - 45%, and Tier 3 - 20%
  • By Designation: C-level Executives - 35%, Directors - 25%, and Others - 40%
  • By Region: North America - 45%, Europe - 20%, APAC - 30%, and RoW - 5%

Another research titled Artificial Intelligence in Aviation Market Global Forecast to 2025 says, the AI in aviation market is expected to be valued at $152.4 million in 2018 and is likely to reach $2,222.5 million by 2025, at a CAGR of 46.65% during the forecast period. Virtual assistants expected to hold a major share of the AI in aviation market in 2018. AI in aviation market in APAC expected to grow at the highest rate between 2018 and 2025. Companies such as Intel (US), NVIDIA (US), IBM (US), Micron (US), Samsung (South Korea), Xilinx (US), Amazon (US), Microsoft (US), Airbus (France), Boeing (US), General Electric (US), Thales (France), Lockheed Martin (US), Garmin (US) have been profiled in this 161 pages research report available at http://www.reportsnreports.com/purchase.aspx?name=1341736 .

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